In the course of an audit, you discovered that the CEO of the company you are auditing is having a consensual affair with a female executive at the same company, who does not work for him. Do you feel obligated to inform the Board of Directors?

In today's world what would happen to a company that looks at accounting as a necessary evil and audits as a pure waste of time?
How should the Senior officers of a corporation respond to questions from Board Members, Stockholders and External auditors?
How many accounting methods can you think of that can be used by Corpo

Auditing standard 5 - Internal controls for integrated audit
What would you do if you were the CFO of the XYZ company that is listed on the stock exchange and find through the yearend audit by an independent Audit firm that a 3,000 dollar entry went to the wrong account? In this case the CFO decided not to reopen the books

1. Sales/Inventory Cutoff.
Your client took a complete physical inventory count under your observation as of December 15 and adjusted the inventory control account (perpetual inventory method) to agree with the physical inventory. After considering the count adjustments as of December 15 and after reviewing the transactions r

You are currently reviewing the audit file before planning the audit for the financial year ending 31 December 2010. As per the previous year auditor's findings, last year there were no major audit problems and inherent risks were assessed as relatively low and the control environment was considered satisfactory.
The descript

Kent, CPA, is engaged in the audit of Davidson Corp.'s financial statements for the year ended December 31, 20XX. Kent is about to commence auditing Davidson's employee pension expense, but Kent's preliminary inquiries concerning Davidson's defined benefit pension plan led Kent to believe that some of the actuarial computations

Here I have about 45 review questions, about half of them are multiple choice.
Please complete in Excel or Word.
---------------------------
Response starts with:
Question 7-1
Before you begin to answer this question, the first thing you may want to note is that, "Section 404 of the Sarbanes-Oxley Act calls

The role of the auditor has evolved from auditing "around the computer" to having to "know" technology in order to competently evaluate system controls. What is meant by auditing "around the computer" and is it efficient? Do you agree with the evolution of the role of the auditor and why?

1.What could Nike's Corporate Responsibility team do to improve Nike's public image?
2.Why did Nike's attempt to address it critics prove unsuccessful?
3.What damage, if any, has been done to Nike? Did Nike react appropriately? Did it overreact?
4.What damage, if any, has been done to Nike? Did Nike react appropriately? Did i

These all need to be based on the United States
1. Distinguish among the three principal types of auditors and indicate the types of audits each may perform
2. Explain one of the four economic benefits of a financial statement audit
3. What is the PCAOB and what is the authority given to it.
4. Identi

Auditing standards require the confirmation of accounts receivable in normal circumstances. What are the three exceptions to this requirement? Describe the differences between positive and negative confirmations. Which type is generally viewed as more reliable?
900 words

Reasonableness of management's accounting estimates is covered by the existence or occurrence assertion. True or False
Which one of the following is among the three components of audit risk?
a) Incurrence risk
b) Occurrence risk
c) Rejection risk
d) Acceptance risk
e) Control risk
For which of the following accounts i

Here are the questions that I need help with. The fact pattern that should be referenced, is attached. It is a pdf file. Please send me a message if you are unable to view it properly.
Part A.
What reporting responsibilities, if any, does a Mr. Murphy have to:
1) The Audit Committee
Explain why or why not the respon

Multiple Choice
REQUIRED: Indicate the best answer choice for each of the following.
1. Which of the following would most likely be audited in conjunction with the examination of the client's interest notes payable?
a. Interest income.
b. Interest expense.
c. Amortization of goodwill.
d. Royalty revenue.
2.

1. The most persuasive means of assessing production quality control is to:
a. Evaluate the number and reasons for sales adjustments.
b. Analyze labor efficiency variances.
c. Analyze materials efficiency variances.
d. Evaluate the production/inventory/sales mix.
2. A means of preventing production delays as a consequence

Study guide for auditing class to use to study for final exam
Multiple Choice - Choose the BEST answer for each question
1. Which of the following accounts does not appear in the acquisition and expenditure cycle?
a. Cash.
b. Purchases Returns.
c. Sales Returns.
d. Prepaid Insurance.
2. For which of th

Compare and contrast auditing attestation and assurance services. Be sure to include an example of the assurance service, and who might request such a service and what standards apply to that service and who establishes those standards.

Please check the *** attached file *** and let me know if it is possible to solve the problem.
Thanks!
1. Describe the two forms of accounts receivable confirmation requests that you used and indicate the factors that you considered in determining which type to use.
2. What "alternative procedures" are you going to use

What are the auditor independence issues surrounding the provision of external auditing services, internal auditing services, and management consulting services for the same client?
Develop arguments for why auditors should be allowed to perform these services for the same client. Develop separate arguments for why auditor

In almost all accounting courses there has been a reference to internal controls and their importance. In the auditing course, a more detailed discussion on internal controls, control risks and situations that have occurred because of weakness in internal controls? Why has so much time been spent on this subject?
Please p

The company in question had a very significant amount of plant assets and also had a very significant maintenance expense each year. The company goals were reflected at every level of the company. The CEO knew that his job was on the line and to keep it he had to meet certain earnings goals. In establishing those goals a cert

Many corporations and government entities have an internal auditing function and a separate fraud investigation function either as a subunit of internal auditing or security or as a separate unit within the organization. In addition, many accounting and consulting firms have a forensic, investigation, and litigation support serv

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